Asian stocks higher after Wall St rebounds from bank jitters

A currency trader talks on the phone near the screen showing the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, March 15, 2023. Asian stock markets rebounded Wednesday after Wall Street stabilized following sharp declines for bank stocks and U.S. inflation eased but stayed high. BEIJING — — Asian stock markets rebounded Wednesday after Wall Street stabilized following declines for bank stocks and U.S.

“The anchoring of less hawkish expectations provided some catalyst for risk sentiments to recover,” said Yeap Jun Rong of IG in a report. “There were also no new negative headlines of another bank or funds in trouble, which allows investors’ sentiments to settle down.” The Shanghai Composite Index rose 0.7% to 3,267.15 after Chinese economic activity improved in January and February but less than expected after anti-virus controls ended. Retail sales rose 3.5% over a year earlier, rebounding from December's 1.% contraction. Factory output rose 2.4%, up from 1.3%.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Source: cleveland19news - 🏆 70. / 68 Read more »

Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Source: wsfa12news - 🏆 338. / 59 Read more »

Bank stocks drop and S&P 500 swings as Wall Street shakesNEW YORK (AP) — Wall Street is worried about what may be next to topple following the second- and third-largest bank failures in U.S. history, and stocks are swinging sharply Monday as investors scramble to find someplace safe to park their money. Poor rich people. I here Switzerland is nice this time of year. You can even evade taxes there. 😭😭✋🏿💀💀✋🏿✋🏿Goddess has been working on ending the 1% since 2021😭😭✋🏿✋🏿💀
Source: AP - 🏆 728. / 51 Read more »